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What is Standard Business Reporting (SBR)?
SBR is a Federal Government initiative that enables businesses to submit information directly to government agencies via their accounting software, for example lodging activity statements with the ATO, or financial statements with ASIC. This initiative will help reduce the burden of administration and compliance associated with business-to-government reporting.
Is AccountRight SBR enabled?
MYOB has been working with the ATO and SBR project teams to help develop and guide the new reporting frameworks. Currently you can lodge your activity statements directly from AccountRight. We're working on implementing additional SBR functionality into AccountRight. The ATO's Single Touch Payroll reporting requirements further enhance AccountRight's SBR capabilities.
There are also some 3rd party add-on solutions which provide SBR functionality for your AccountRight software. Learn more about these SBR add-on solutions.
Also, there are some AccountRight reports, such as the EMPDUPE (PAYG Payment Summaries) and TPAR (Taxable Payments Annual Report), which AccountRight generates which can be uploaded via the ATO business portal.
Where can I learn more about SBR?
More information on the SBR initiative can be found at http://www.sbr.gov.au